Europe's solar industry is currently witnessing a transformative phase marked by a surplus of solar panels flooding the market. One of the most notable outcomes of this surplus is the substantial decrease in solar panel prices, making clean energy more accessible than ever before.

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Falling Solar Panels Prices

The excess stock of solar panels in Europe has led to a remarkable decline in their prices. This price reduction has democratized solar energy, bringing it within reach for a wider audience. The Chinese Module Marker (CMM), the OPIS benchmark assessment for Mono PERC modules from China, and TOPCon module prices, declined this week by the same amount of $0.005 per Wp to $0.140/wp and $0.147/wp respectively. With falling upstream prices and weak demand in China with its key export markets these are the lowest prices ever recorded, according to OPIS data.

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Falling Solar Cells Prices

Solar cell prices hit a fresh historical low this week according to OPIS data, with the price of Mono Perc M10 and G12 cells assessed at $0.0603 per W and $0.0645/W FOB China, respectively, down by $0.0056/W and $0.0058/W from the previous week. The price of M10 TOPCon cells likewise decreased by $0.0031/W week to week to $0.0690/W.

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The prices of cells have decreased for the fourth week in a row, according to OPIS data. Due to the acute lack of downstream demand, cell makers have been engaged in a price war; they have to compete to cut prices in order to encourage demand and increase sales volume, according to a cell manufacturer.

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When asked what plan they would further take to deal with the present slow sales, a cell manufacturer responded that there aren't any effective approaches at the moment and that it's anticipated that wafer and cell makers’ operating rates would continue to drop in November.